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Potash price pressure

January 24, 2010 - 00:00 GMT

KEYWORDS: Potash , fertiliser , PotashCorp , K+S , BHP Billiton , Israel Chemicals , Belaruskali , Uralkali

Potash producers finally begin to bow to low market demand

After remaining bullish throughout 2009, the potash leader has somewhat symbolically slashed its potash prices across the board to $390/tonne Ð rising to $420/tonne in March 2010.

This is a significant move by the fertiliser giant and an acknowledgement of present market conditions, but it has been a long time coming.

Russia’s OAO Silvinit kick-started the price adjustments in July 2009, when it set the benchmark price at $425/tonne (IM August ’09, p.17: Potash prices face up to reality).

Germany’s K+S followed suit with a contract agreement for 100,000 tonnes of potash delivered to March 2010, snapped up by India Potash...

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